the Tranche 1 Loan of EUR 85,000,000 (eighty-five million Euros) (the

the Tranche 2 Loan of EUR 20,000,000 (twenty million Euros) (the “Tranche 2

The Minimum Drawdown Amount shall be EUR 1,500,000.

The Minimum Prepayment Amount shall be EUR 1,000,000.

The Minimum Cancellation Amount shall be EUR 1,000,000.

The Interest Payment Dates shall be 15 April and 15 October of each year.

(1) The Borrower shall repay the Tranche 1 Loan in 22 equal (or as nearly equal as possible) semi-annual instalments on 15 April and 15 October of each year, with the first Loan Repayment Date being 15 April 2029 and the last Loan Repayment Date being 15 October 2039.

Notwithstanding anything to the contrary, express or implied, in this Agreement, the Tranche 2 Loan is uncommitted and accordingly the Bank shall have no obligation to make any disbursements under the Tranche 2 Loan unless it, (1) has received the Borrower’s request to make Tranche 2 committed on or before 31 March 2025 or such later date agreed in writing with Bank; (2) has evidence that the WBIF Grant will not be provided by the EU to the Borrower and (3) shall have determined in its sole and absolute discretion that it is prepared to make Tranche 2 Loan available for disbursement and (4) shall have notified the Borrower of such positive determination (if any).

The Last Availability Date for the Tranche 1 Loan shall be the date of the fourth anniversary of the date of this Agreement. and for the Tranche 2 Loan shall be the date of the fourth anniversary of the Tranche 2 Loan Availability Date, or such later date that the Bank may in its discretion establish and notify to the Borrower. If the Available Amount, or any part thereof, is subject to a Fixed Interest Rate (in case if the Borrower would exercise its right to elect to pay interest at a Fixed Interest rate under

Section 2.02

(h) below), and the Bank postpones the Last Availability Date, the Borrower shall promptly pay to the Bank such amount of Unwinding Costs as shall, from time to time, be notified by the Bank in writing to the Borrower.

The rate of the Commitment Charge shall be: 0.5% per annum on the undisbursed amount of each of the Tranche 1 Loan and the Tranche 2 Loan. The Commitment Charge shall accrue, on the Tranche 1 Loan, sixty (60) days after the date of the Loan Agreement. The Commitment Charge shall accrue, on the Tranche 2 Loan sixty (60) days after the Tranche 2 Loan Availability Date. The Commitment Charge shall be payable on the Available Amount of the Tranche 1 Loan and the Tranche 2 Loan, respectively, on each Interest Payment Date (even though no interest may be payable on such date) commencing, for the Tranche 1 Loan, on the first Interest Payment Date following the Effective Date and for the Tranche 2 Loan, on the first Interest Payment Date following sixty (60) days after the Tranche 2 Availability Date.

The Loan may be subject to a Variable Interest Rate. Notwithstanding the foregoing, the Borrower may, as an alternative to paying interest at a Variable Interest Rate on all or any portion of the Loan then outstanding, elect to pay interest at a Fixed Interest Rate on such portion of the Loan in accordance with Section 3.04(c) of the Standard Terms and Conditions.

The Borrower shall pay to the Bank the Front-end Commission equal to one per cent (1 %) of the Tranche 1 Loan and the Tranche 2 Loan. The Bank shall, on behalf of the Borrower, withdraw such amount from the Available Amount of the Tranche 1 Loan on the Effective Date, or within seven (7) days thereafter and from the Available Amount of the Tranche 2 Loan on the Tranche 2 Availability Date, or within seven days (thereafter) and pay to itself the amount of such front-end commission.

make available to the Project Entity, pursuant to an agreement in form and substance satisfactory to the Bank, the proceeds of the Loan on terms and conditions acceptable to the Bank;

cause all goods, works and services financed out of the proceeds of the Loan to be used exclusively for the purposes of the Project;

delegate to the Project Entity the day-to-day management of the Project, including, but not limited to, the consolidated financial and procurement management;

perform all its obligations under the Project Agreement;

cause the Project Entity to fulfil all of its obligations under the Project Agreement;

provide or cause to be provided, when requested, all governmental licenses, approvals or consents required by the Project Entity for the Project, and for carrying out their businesses, including all approvals and licenses necessary to ensure that the Project Entity are granted rights of way and other land use rights necessary for carrying out the Project;

exempt from VAT and custom duties, all goods, works and services procured by the Borrower, acting through the MoME, or the Project Entity, for the Project and financed from the proceeds of the Loan;

take all actions necessary to provide adequate funds for the completion of the Project;

ensure the implementation of the Environmental and Social Action Plan, and compliance with the EBRD’s Environmental and Social Policy by the Project Entity;

ensure that the Project Entity has adequate resources and suitably qualified personnel during the implementation of the Project as well as after the completion of the Project; and

transfer the assets to be financed from the proceeds of the Loan and Investment Grants to Project Entity as applicable.

the legislative and regulatory framework applicable to the energy sector in the territory of the Borrower shall have been amended, suspended, abrogated, repealed or waived in a manner other than as approved by the Bank in writing;

the Statute of the Project Entity shall have been amended, suspended, abrogated, repealed or waived;

the Project Entity shall have failed to perform any of its obligations under the Project Agreement; or

the ownership of the Project Entity is transferred to any other party than the City, unless the Bank has given its prior written approval to such transfer.

ratification of the Loan Agreement by the Parliament of the Republic of Serbia;

the Project Agreement, in form and substance satisfactory to the Bank, has been executed and delivered and all conditions precedents to its effectiveness, except only the effectiveness of the Loan Agreement, have been fulfilled;

legal opinion in form and substance acceptable to the Bank from the Ministry of Justice confirming that the Loan Agreement has been duly authorised by the Borrower and constitutes a valid and legally binding obligation of the Borrower enforceable in accordance with its terms;

legal opinion in form and substance acceptable to the Bank from the head of the legal department of the Project Entity confirming that the Project Agreement has been duly authorised by the Project Entity and constitute valid and legally binding obligations of the Project Entity enforceable in accordance with its term; and

(if applicable), the execution and delivery of the WBIF Investment Grant Agreement signed by the Borrower, acting through MoME which has been duly authorised or ratified by all necessary governmental and corporate action.

the Project Support Agreement, in form and substance satisfactory to the Bank, has been executed and delivered to the Bank;

a Project Implementation Unit has been established by the MoME and the Project Entity with adequate resources and suitably qualified personnel, in form and substance satisfactory to the Bank, and is operational; and

appointment of qualified consultants to support the Project Implementation Unit (in implementing the Project, including procurement, supervision of work, project management and reporting, financed out of WBIF grant funds, with engagement terms that are approved of by the Bank) have been appointed and mobilised to start their assignment, and are acceptable to Bank.

For purposes of Section 9.03(a) of the Standard Terms and Conditions the opinion or opinions of counsel shall be given on behalf of the Borrower by the Minister of Justice.

For purposes of Section 9.03(c) of the Standard Terms and Conditions the opinion or opinions of counsel shall be given on behalf of the Project Entity by the head of the legal department of the Project Entity.

Tranše 1 Zajma u iznosu od 85.000.000 evra (osamdeset pet miliona evra) (u daljem tekstu: „Tranša 1 Zajma”).

Tranše 2 Zajma u iznosu od 20.000.000 evra (dvadeset miliona evra) (u daljem tekstu: „Tranša 2 Zajma”).

Minimalni Iznos povlačenja sredstava je 1.500.000 evra.

Minimalni Iznos prevremenog plaćanja je 1.000.000 evra.

Minimalni Iznos koji se može otkazati je 1.000.000 evra.

Datumi plaćanja kamate su 15. april i 15. oktobar svake godine.

(1) Zajmoprimac otplaćuje Tranšu 1 Zajma u 22 jednake (ili približno jednake) polugodišnje rate 15. aprila i 15. oktobra svake godine, pri čemu je prvi Datum otplate Zajma 15. april 2029. godine, a poslednji Datum otplate Zajma 15. oktobar 2039. godine.

Bez obzira na bilo šta suprotno, izričito ili implicitno, u ovom ugovoru, Tranša 2 Zajma nije obavezna i shodno tome Banka neće imati nikakvu obavezu da izvrši bilo kakve isplate u okviru Tranše 2 Zajma osim ako, (1) nije primila zahtev Zajmoprimca da učini Tranšu 2 obaveznom na ili pre 31. marta 2025. godine ili nekog kasnijeg datuma dogovorenog u pisanoj formi sa Bankom; (2) ima dokaz da EU neće obezbediti WBIF grant Zajmoprimcu i (3) će po sopstvenom i apsolutnom nahođenju utvrditi da je spreman da Tranšu 2 Zajma stavi na raspolaganje za isplatu i (4) je obavestio Zajmoprimca o takvoj pozitivnoj odluci (ako postoji).

Krajnji datum raspoloživosti za Tranšu 1 Zajma biće datum četvrte godišnjice dana ovog ugovora, a za Tranšu 2 Zajma datum četvrte godišnjice Datuma raspoloživosti Tranše 2 ili neki kasniji datum koji Banka može po svom nahođenju da utvrdi i o tome obavesti Zajmoprimca. Ako Raspoloživi iznos ili bilo koji njegov deo podleže Fiksnoj kamatnoj stopi (u slučaju da Zajmoprimac iskoristi svoje pravo da odabere da plaća kamatu po fiksnoj kamatnoj stopi u skladu sa Odeljkom 2.02(h) ispod), a Banka odloži Krajnji datum raspoloživosti, Zajmoprimac će odmah uplatiti Banci iznos Troškova poravnanja o čemu će, povremeno, Banka obavestiti Zajmoprimca u pisanoj formi.

Stopa Naknade za angažovana sredstva iznosi: 0,5% godišnje na neisplaćeni iznos Tranše 1 Zajma i Tranše 2 Zajma. Naknada za angažovana sredstva će se obračunavati, na Tranšu 1 Zajma, šezdeset (60) dana nakon datuma Ugovora o zajmu. Naknada za angažovana sredstva će se obračunavati, na Tranšu 2 Zajma, šezdeset (60) dana nakon Datuma raspoloživosti Tranše 2. Naknada za angažovana sredstva će se platiti na Raspoloživi iznos Tranše 1 Zajma i Tranše 2 Zajma, respektivno, na svaki Datum plaćanja kamate (iako na taj datum možda ne može da se plati kamata) počevši, za Tranšu 1 Zajma, na prvi Datum plaćanja kamate nakon Datuma stupanja na snagu i za Tranšu 2 Zajma, na prvi Datum plaćanja kamate nakon šezdeset (60) dana nakon Datuma raspoloživosti Tranše 2.

Na Zajam se može primeniti Promenljiva kamatna stopa. Bez obzira na gorenavedeno, Zajmoprimac može, kao alternativu plaćanju kamate po Promenljivoj kamatnoj stopi na ceo ili bilo koji deo Zajma koji nije otplaćen, odabrati da plaća kamatu po Fiksnoj kamatnoj stopi na taj deo Zajma u skladu sa Odeljkom 3.04(c) Standardnih uslova poslovanja.

Zajmoprimac će platiti Banci Upisnu proviziju u iznosu od jednog procenta (1%) Tranše 1 Zajma i Tranše 2 Zajma. Banka će, u ime Zajmoprimca, povući takav iznos iz Raspoloživog iznosa Tranše 1 Zajma na Datum stupanja na snagu ili u roku od sedam (7) dana nakon toga i iz Raspoloživog iznosa Tranše 2 Zajma na Datum raspoloživosti Tranše 2 ili u roku od sedam dana (nakon toga) i platiti sebi iznos takve upisne provizije.

Upisnu proviziju.

staviti na raspolaganje Projektnom subjektu, u skladu sa sporazumom u formi i sadržini koji je zadovoljavajući za Banku, sredstva Zajma pod uslovima i rokovima prihvatljivim za Banku;

omogućiti da se sva dobra, radovi i usluge koji se finansiraju iz sredstava Zajma koriste isključivo u svrhe Projekta;

preneti na Projektni subjekt svakodnevno upravljanje Projektom, uključujući, ali ne ograničavajući se na, konsolidovano upravljanje finansijama i nabavkama;

izvršiti sve svoje obaveze iz Ugovora o projektu;

omogućiti da Projektni subjekt izvrši sve svoje obaveze prema Ugovoru o projektu;

obezbediti ili omogućiti da se obezbede, kada se to zahteva, sve vladine licence, odobrenja ili saglasnosti koje su potrebne Projektnom subjektu za Projekat i za obavljanje svog poslovanja, uključujući sva odobrenja i licence neophodne da bi se Projektnom subjektu obezbedila prava službenosti prolaza i druga zemljišna prava koja su neophodna za sprovođenje Projekta;

osloboditi od PDV i carina, sva dobra, radove i usluge koje je pribavio Zajmoprimac koji postupa preko MRE ili Projektni subjekt, za Projekat i koji su finansirani iz sredstava Zajma;

preduzeti sve radnje koje su potrebne za obezbeđivanje adekvatnih sredstava za završetak Projekta;

osigurati implementaciju Akcionog plana za životnu i društvenu sredinu i usklađenost Projektnog subjekta sa EBRD Politikom životne i društvene sredine;

omogućiti da Projektni subjekt poseduje adekvatne resurse i odgovarajuće kvalifikovano osoblje tokom implementacije i nakon završetka Projekta; i

preneti sredstva koja će se finansirati iz sredstava Zajma i Investicionih grantova na Projektni subjekt prema potrebi.

zakonodavni i regulatorni okvir koji se primenjuje na energetski sektor na teritoriji Zajmoprimca bude izmenjen, suspendovan, ukinut, poništen ili odreknut na način drugačiji od onog koji je odobrila Banka u pisanoj formi;

Statut Projektnog subjekta bude izmenjen, suspendovan, ukinut, poništen ili odreknut;

Projektni subjekt ne ispuniti nijednu od svojih obaveza iz Ugovora o projektu; ili

vlasništvo nad Projektnim subjektom se prenese na bilo koju drugu stranu osim Grada, osim ako Banka nije dala prethodno pismeno odobrenje za takav prenos.

ratifikacija Ugovora o zajmu od strane Narodne Skupštine Republike Srbije;

Ugovor o projektu je potpisan i dostavljen u formi i sadržini zadovoljavajućim za Banku i ispunjeni su svi uslovi koji prethode njegovom stupanju na snagu, osim stupanja na snagu Ugovora o zajmu;

pravno mišljenje Ministarstva pravde u formi i sadržini prihvatljivim za Banku koje potvrđuje da je Ugovor o zajmu propisno potvrđen od Zajmoprimca i da predstavlja važeću i pravnu obavezu Zajmoprimca koja se može izvršiti u skladu sa njegovim uslovima;

pravno mišljenje šefa pravnog sektora Projektnog subjekta u formi i sadržini prihvatljivim za Banku koje potvrđuje da je Ugovor o projektu propisno potvrđen Projektnog subjekta i da predstavlja važeću i pravnu obavezu Projektnog subjekta koja se može izvršiti u skladu sa njegovim uslovima; i

(ako je primenljivo), potpisivanje i predaja WBIF Ugovor o investicionom grantu koji je potpisao Zajmoprimac, postupajući preko MRE, koji je propisno potpisan ili ratifikovan u skladu sa svim neophodnim vladinim i korporativnim radnjama.

Ugovor o projektnoj podršci, u formi i sadržini zadovoljavajućim za Banku, je potpisan i dostavljen Banci;

Jedinica za implementaciju projekta je formirana od strane MRE i Projektnog subjekta sa odgovarajućim resursima i adekvatno kvalifikovanim osobljem, u formi i sadržini zadovoljavajućim za Banku, i operativna je; i

imenovanje kvalifikovanih konsultanata za podršku Jedinici za implementaciju projekta (u implementaciji Projekta, uključujući nabavke, nadzor nad radovima, upravljanje projektom i izveštavanje, finansirano iz WBIF grant sredstava, uz uslove angažovanja koje je odobrila Banka) koji su imenovani i mobilisani da započnu svoj zadatak i prihvatljivi su za Banku.

Za potrebe Odeljka 9.03(a) Standardnih uslova poslovanja, mišljenje ili mišljenja pravnih savetnika će u ime Zajmoprimca dati ministar pravde.

Za potrebe Odeljka 9.03(c) Standardnih uslova poslovanja, mišljenje ili mišljenja pravnih savetnika će u ime Projektnog subjekta dati šef pravnog sektora Projektnog subjekta.